Medicare Advantage, Medicare Prescription Drug Plans, Medicap Coverage

Most people enroll in Medicare insurance when they enroll in Original Medicare. This is usually done during the seven-month Initial Enrollment Period (IEP) surrounding your 65th birthday. The IEP:

• Begins the first day of the month three months before the month of your birthday. If your birthday is July 17, then your IEP begins April 1.
• Ends the last day of the month three months after your IEP. If your birthday is July 17, then your IEP ends Oct. 31.

The Medicare Insurance Annual Enrollment Period (AEP) runs each year from Oct. 15 – Dec. 7. During Annual Enrollment, you can:

• Change from Original Medicare to a Medicare Advantage Plan.
• Change from a Medicare Advantage Plan back to Original Medicare.
• Switch from one Medicare Advantage Plan to another Medicare Advantage Plan.
• Switch from a Medicare Advantage Plan that does not offer drug coverage to a Medicare Advantage Plan that offers drug coverage.
• Switch from a Medicare Advantage Plan that offers drug coverage to a Medicare Advantage Plan that does not offer drug coverage.
• Join a Medicare drug plan.
• Switch from one Medicare drug plan to another Medicare drug plan.
• Drop your Medicare drug coverage completely.

_{Source: Medicare.gov}

You can also make certain changes to your Medicare Advantage benefits during Medicare Advantage Open Enrollment (OEP), which occurs from Jan. 1 – March 31 each year:

• If you are in a Medicare Advantage Plan (with or without drug coverage), you can switch to another Medicare Advantage Plan (with or without drug coverage).
• You can drop your Medicare Advantage Plan and return to Original Medicare. You will also be able to join a Medicare drug plan.

_{Source: Medicare.gov}

If you enroll in Original Medicare during General Enrollment (Jan. 1 – March 31), then you might be able to enroll in a Part D or an Advantage plan from April 1 – June 30. Restrictions apply.

Medigap Open Enrollment is a six-month period that starts the month that you are both 65 and have Original Medicare Part B. If you do not enroll during this time, you might not qualify for a plan later. You can enroll in a plan if you drop an existing Advantage plan and return to Original Part B.

Please Note: Some people qualify for special enrollment periods and can delay their enrollment in Original Medicare. Your timeline to enroll in Medicare insurance might also change at this time. 

Medicare insurance plans are still part of the Medicare program. As a result, a variety of regulations can impact the availability, costs, and eligibility rules of different plans. All Medicare plans must meet coverage standards set by the government, and you must enroll in Original Medicare before you can buy any additional plan.

Not all plans are available in all areas, and plan networks, premiums and covered care can vary depending on the plan you choose. Contact us to learn more about the specifics of your chosen plan options.